18 September 2014

Tagetik Announces Release of Tagetik 5 Bringing an Unparalleled Combination of Power and Flexibility to Corporate Performance Management

Advancements in Usability, Mobility, Velocity, and Flexibility designed to support evolving role of the Office of Finance

Tagetik, a visionary provider of global performance management software solutions, announced today in the opening plenary session of its annual global conference that Tagetik 5, the latest version of the company’s unified CPM solution, is now generally available. Tagetik 5 includes new capabilities and technology advancements across budgeting, forecasting and planning, consolidation and close, disclosure management and compliance, internal and external reporting, and workflow and process management.

Tagetik 5 uniquely provides the ability to choose which new capabilities to use and when. “Our goal with Tagetik 5 is to bring customers innovation without disruption,” saidMarco Pierallini, Tagetik co-CEO.“We’ve designed this new release with the future in mind – even faster performance, the ability to store and process larger amounts of data, and streamlining navigation and access to any report from any mobile device to support an even larger number of users.”

“We recognize that finance organizations don’t evolve at the same pace,” added Luca Rossello, EVP, Chief Technology Officer at Tagetik. “Therefore, just as we give customers a choice of deployment options (SaaS, enhanced cloud, or on-premises), we think it’s important to give customers a choice of the capabilities to implement, and the flexibility to choose when it makes business sense to do so.”Tagetik 5 enhancements and new functionality are focused on four key areas – usability, mobility, velocity, and flexibility – which are essential to today’s finance organizations.

Usability:

Tagetik 5’s newly designed interface makes for even easier navigation, especially for occasional business users.

Any user can customize their homepage to match their usage of Tagetik by adding commonly used tasks, reports, or entry forms.

New webforms deliver the ease of use and power of Tagetik’s Excel front end but with zero footprint. A user can display a report either way – it’s their choice.

The newly designed process cockpit gives managers and administrators an enhanced graphical view of workflow progress by user, activity, and process.

Self-service Dashboard capability has been added for all users bringing easy visualization of key trends or indicators to all. Dashboards are created from virtually any existing report simply by clicking a button.

Mobility:

Users can access Tagetik 5 from virtually any mobile device, because of the redesignedHTML5-based interface. With the introduction of this technology, users can enter budget data, make a journal entry, review and comment on a report, manage process flow – from virtually any device. Users also cancreate a report once and access it anywhere and in any format – on the web, in Excel, or in a dashboard – without additional work or set up. This completely flexible experience is called Tagetik AnywhereTM.Additionally, Tagetik just released its first mobile app. The Windows 8 Mobile App is now available on the Microsoft App Store, allowing users to view and interact with pre-built dashboards right from their Windows 8 devices. More process specific mobile apps will be added to the Tagetik 5 mobile experience in the near future.

Velocity:

While Tagetik is known for having one of the fastest and most powerful consolidation and calculation engines on the market, Tagetik 5 incorporates in-memory technology to make these engines even faster. Users have the flexibility to select between server and in-memory processing so each application can take advantage of the optimal combination of disk-based and in-memory processing for optimal performance. With these advancements more data can be consolidated faster, allowing huge volumes of data to be processed quickly for massive consolidations or financial/scenario modeling and decision-making. Starting with Tagetik 5, customers can choose SAP HANA as the backend database for Tagetik taking even greater advantage of in-memory technology. Highlighting Tagetik’s open strategy, customers can choose Oracle, Microsoft SQL Server, or SAP HANA as the backend database based on their specific business needs or environment.

Flexibility:

From its inception, Tagetik’s design has been focused on openness so customers can easily integrate with their existing IT infrastructures and application environments. Tagetik 5 continues this tradition of openness with the addition of SAP HANA as a database option and new connectors to Microsoft Dynamics NAV (in addition to existing integration with Microsoft Dynamics AX) and anew connector to Qlik’s widely used BI platform, QlikView. The QlikView connector brings Tagetik’s embedded financial intelligence to data analysis and visualization.

“Tagetik 5 reflects our customer-centric culture and our ongoing passion for solving the challenges of finance,” saidManuel Vellutini, Tagetik co-CEO.“Tagetik’s strategy is solely focused on providing solutions with the ultimate combination of deep functionality, scalability and ease of use. This latest release, based on extensive market research and ongoing customer conversations, is designed specifically to address the needs of finance today and the future.” “Speed, flexibility, usability and mobility are increasingly important for users of business software. They are essential for finance and accounting organizations that want to keep pace with growing businesses without adding personnel,” said Robert Kugel, senior vice president and research director for Ventana Research. “Our research has found that it’s actually taking longer for companies to close their books compared to five years ago; shortening the accounting close requires automation and tighter control of how the process is executed. Tagetik’s latest enhancements to its workflow support and the addition of mobile functionality have made it even easier to institute changes to the close – or, for that matter, any other finance department workflows performed within Tagetik’s suite – without requiring any help from IT.

”The Tagetik in Touch global conference, themed “Progress in Action” continues through Friday, September 19. Many of the conference sessions focus on Tagetik 5-related topics to introduce customers to the capabilities and use cases for the new consolidation engine, mobile webforms, in-memory calculations and connectors.